For many, Premier Li Keqiang’s statement on how “There will be more risks and challenges that are either predictable or unpredictable and we must be fully prepared for a tough battle.” could not have captured the mood of the global economy any better.

“Denmark was among the first Western countries to establish diplomatic relations with the People’s Republic of China and was also among the Northern European countries that established a comprehensive strategic partnership with China.”

The New York Times on Monday claimed China was making a “sweeping rewrite” of its laws in a hope to “pacify the United States and ease a rancourse trade dispute”. The new law does address some of the claims made by the U.S., but is China really passing a law to appease them?